CompuServe Messages

I am by no means a qualified legal authority. However, usually insurance is for things that could happen. If the directors bought more insurance, (and one wonders why they purchased 3 years worth, when they were about to liquidate), with the knowledge that they had done something legally wrong, you can bet the insurance company would go after them for fraud. Just the same as if you bought insurance and then ran your car into a tree to collect. We bond (insure) our people who handle money against theft, embezzelment (sp?) etc. When one of them did steal, we got the money back from the insurance company, and then the company went after him.